BOLINGBROOK, IL-The deal fills Sun Life Financial's 325,600-sf industrial asset at 389 Frontage Rd. The warehouse space had been on the market at $3.95 per sf.

CHICAGO-Owners of industrial property on three areas on the South, West and Northwest sides will soon be assured manufacturing zoning will rule in their neighborhoods, rather than be forced out by residential developers.

CHICAGO-"Right now, the (auction) industry is about an $58-billion business, and it's growing at a rate of 20% a year," says Steven Good, whose auction company did $300 million in business last year, nearly double the volume of the traditional brokerage operation.

CHICAGO-Multifamily developer Smithfield Properties will do the $15.9-million build-to-suit for Coyne American Institute, Inc.'s new school at 330 N. Green St., and get the current school at 1235 W. Fullerton Ave., worth $12 million.

CHICAGO-Mayor Richard M. Daley continues his call for property tax relief at the state and local levels as residential property tax assessments across the city rise 32%.

CHICAGO-The 10-year loan from the New York-based insurance giant is at a relatively low loan-to-value, considering Atlanta-based Wells Real Estate Funds paid $465 million for the 83-story East Loop office tower in 2003.

CHICAGO-The second largest US shopping center owner's 2004 buying binge continues with a 100% interest in the 1.2-million-sf Mall of Louisiana in Baton Rouge as well as a 50% interest in the 1.5-million-sf Riverchase Galleria in Birmingham, AL.

NAPERVILLE, IL-In separate transactions, Jackson Allied Moving Services buys a 161,000-sf distribution facility at 720 Frontenac Rd., where a current tenant will remain in 61,000 sf in a deal worth $6.8 million while Prater Industries pays nearly $3.4 million for a 55,320-sf Bolingbrook building.